The numbers: Most U.S. businesses grew at a slower pace in May as customer demand leveled off, a new survey showed. The ISM services index fell to a five-month low of 50.3% last month. The Institute for Supply Management’s index of service-oriented businesses dropped from 51.9% in April. Numbers above…

© Reuters Investing.com – U.S. stock futures were trading lower during Monday’s evening deals, following a negative session among major benchmark indices as investors retreated amid weakening PMI data. By 19:10 ET (23:10 GMT), and were 0.1% lower while dipped 0.2%. In extended deals, GitLab Inc (NASDAQ:) lifted 28.1% after…

Investing.com — Oil prices soared Monday after Saudi Arabia, the world’s largest exporter, pledged over the weekend to cut production by a further million barrels per day from July in an attempt to support a market hit by macroeconomic headwinds. By 09:05 ET (13:05 GMT), futures traded 2.5% higher at…

By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s central bank has sold the dollar at 645 naira at its latest auction, results showed on Friday, lower than 465 naira where the currency is trading on the official secondary market. Nigeria operates multiple exchange rates, which the central bank has used to…

By Angus Berwick and Tom Wilson LONDON (Reuters) – On Monday, the U.S. Securities and Exchange Commission took aim at the most powerful man in crypto. The SEC accused Binance founder Changpeng Zhao of operating a “web of deception,” charging him and his exchange with 13 offences. These ranged from…

Interest rate hikes by key central banks around the world and tightening credit conditions will put pressure on U.S. regional banks’ capital, credit quality, and profitability. Globally systemically important banks (G-SIBs) are benefiting from the diversity of business lines they have, as well as from the various sources of funding…

I always thought that “unicorns” was the wrong name for fintechs that reached a billion dollar valuation. After all, unicorns do not exist (sorry kids) but such fintechs do. They are not mythical, but they are rare. What’s more, they seem to be getting rarer. We probably should have called…

Key News Asian equities were broadly higher overnight, though South Korea was closed for the Memorial Day holiday. Hong Kong and Mainland China gave back mid-morning gains to close lower, as the Hang Seng Index opened higher by +1.41%, but closed lower by -0.05%. The most important news overnight came…

Topline Just one day after levying charges against the world’s largest cryptocurrency exchange, the Securities and Exchange Commission filed suit against cryptocurrency giant Coinbase on Tuesday, alleging the popular U.S. trading platform has been operating an unregistered broker since at least 2019. Key Facts In a statement Tuesday, the SEC…

Scam victims often don’t know they are being swindled. Maybe they are trusting souls or just fall for a clever pitch. I’m not sure. Yet scams are on the rise as thieves find new ways to deceive people and take their money. A recent AARP survey found that “financial predators…